New SolarCity deal will double U.S. rooftop solar power (BASE HOUSING - Solyndra 3.0!)

http://money.cnn.com ^ | 09-07-2011 | By Steve Hargreaves

[Red Badger]

NEW YORK (CNNMoney) -- Residential solar power provider SolarCity and the U.S. government announced a deal Wednesday to put solar panels on military housing units, a move that could double the number of rooftop solar power installed in the United States.

The complex plan calls for SolarCity to receive a $344 million Department of Energy-backed loan from financiers U.S. Renewables Group and Bank of America.

SolarCity will then use the money to put up to 160,000 rooftop solar installations on top of privately run military housing complexes at 124 military bases across 34 states.

SolarCity will own and operating the solar panels, and the companies that own the housing unites will send a monthly check to SolarCity for the electricity.

[Red Badger]

Oh good grief..................

[truthguy]

Oh good grief..................

You beat me to it, except I was gonna say:

For crying out loud......


Where's that guy with the Ah gee, not this *hit again. You know the guy who looks like Desi Arnaz. Please Post.

[Red Badger]

I bet the kickbacks are staggering.......................

[org.whodat]

They may get ten houses done before they request more funding.

[Nervous Tick]

[rockvillem]

For crying out loud......

This too my man. This too.

[silverleaf]

milking the DoD budget allocated for military housing

I bet this will cost a fortune for nada

[mosesdapoet]

After the pannels go up the the monitors go in and the thermostats get set at 57 degrees in winter and 85 during summer...

[jersey117]

That ought to employ the installers for about two weeks.

[N. Theknow]

Wonder how much the execs at SolarCity have contributed to Idi Obama and the Dems?

[MileHi]

I'd like to see the math on this. Solar City runs ads around here to put this on your house.

I don't see how it pays out except for being subsidized.

[detective]

If this is such a great idea why do they need a $344 million loan guarantee, a guaranteed multi-year contract and huge government subsidies?

[HeartlandOfAmerica]

and Bank of America.

Hmmm. BOA gets investigated. BOA invests in Solar power. Pres's favorite program is Solar power.

Am I the only one fitting pieces together here?

[Nachum]

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[Paine in the Neck]

I'd like to see the math on this.

I'd like to see the books. This smells like nothing but payola for another failing solar company who made the right political contributions.

[Quiller]

Oh good grief is right.

Milking the captive consumer to funnel government taxpayer dollars to an industry which has failed by any market standards other than those embraced by a corrupt and rotting government.

The only other thing to make this stink even more is to tie in a union connection.

Oh wait -- that's already there.

[Jonty30]

I think it’s good for the military to be used for such projects, because many of the advancements in society have been because of military projects that became civilian.

However, the military should be the ones to figure out who gets the contracts and how to apply technologies on their bases.

I suspect George Soros is involved somewhere along the pipeline.

[Dubya-M-DeesWent2SyriaStupid!]

Obama will say it created a zillion jobs when all’s it will take is sixty illegal mexicans.

[PA Engineer]

I'd like to see the books. This smells like nothing but payola for another failing solar company who made the right political contributions.

Absolutely. This looks like a payoff. Not a watt will be produced.

[MileHi]

Right. I bet in 5 years there will be useless panels on folks homes that cost too much and they will be back on the grid.